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Monday, 17 February 2014

Gold XAUUSD H1


General Overview for 17/02/2014:

The BEFROE chart (small one) has been published in VIP SERVICE on 02.02.2014 indicating possible wave 5 of wave C truncation and a impulisve bullish trend resumption. The price at that time was $1240 and we had our buy signals entry from 1266 and 1270. Price has hit the longer time target level @ $1310 as well.
Currently this count is in critical place right now: it is either the top for wave (c) and wave C OR the alternate count is in play here with even more higher targets. For a healthy correction the break  of the level of $1320 is needed first and then the level of 1313 must be broken as well. If thise level are broken there is a chance for a pullback tot he 1307 area and trend resumption. Otherwise any new high is bullish as the laternet count has not been finished yet despolite the face that the orange rectangle target level has been hit - it might extend to the upside a little more.

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